Primary Purpose of Financial Reporting under IFRS

Very Easy Financial Reporting Standards Ifrs Framework

According to the IFRS Framework, which of the following best describes the primary purpose of financial reporting?

Financial reporting is essential for providing economic information that is useful in making economic decisions. Various stakeholders, such as investors, creditors, and regulators, rely on this information to assess a company's financial health.

To provide information about the company's future cash flows.

To provide information about the financial position, performance, and changes in financial position.

To provide detailed tax information to regulators.

Hint

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